【Bonk Crash Warning: 27% Drop About to Trigger?】
Currently, this popular cryptocurrency Bonk is on the edge of a cliff! It has fallen over 10% for 7 consecutive days, and another 2% drop in the last 24 hours. Now even the technical charts are sounding the alarm—price trajectories are showing a standard "staircase" pattern, with each step lower than the previous one. If you ask me, this wave of decline has probably just begun.
Looking at the derivatives market, it’s clear that something is seriously wrong: long positions have liquidated $438,000 while short positions have only liquidated $6,000. This disproportionate ratio clearly indicates that the market is collectively betting on a decline. Even more alarming is the negative funding rate; -0.0152 may look like a small number, but in the crypto market, this is a "liquidation warning" signal, indicating that leveraged players are frantically opening short positions.
The technical indicators are even more dismal; the Parabolic SAR indicator has placed the stop-loss point above the current price, essentially telling you "run for it". All indicators are flashing red lights, and a 27% drop is not just a scare tactic—from the current position of $0.000023 downwards, the support level at $0.000017 may not hold.
However, gamblers shouldn’t despair just yet; there are currently a large number of stop-loss orders on the exchanges. If it really drops to a critical level, it might trigger short covering. But given the current market sentiment, I advise everyone to buckle up; this roller coaster is likely to dive underground. Remember, when all technical indicators and capital flows point in the same direction, the risk of counter-trend bottom fishing is ten times higher than usual!
Now that the market has corrected, the bull market will soon start. I have carefully selected an altcoin with an expected 5x return for everyone, leave a comment + like for a free share.